BSP Memo 012 Series of 2014: MBv8 and MBWin to Replace MBXZ


Banks and financial institutions were advised by the Bangko Sentral ng Pilipinas to transfer to other core banking systems that are not running on Windows XP. BSP Memorandum No. 012 Series of 2014 entitled Obsolescence of Information Assets was issued on March 11, 2014, informing all its bank and supervised institutions (BSI) about Microsoft’s 2012 announcement ending its support for Windows XP. Due to the technical obsolescence and lack of developer support in Windows XP, BSP is encouraging BSIs to acquire new IT systems to comply with operational risk governance.

According to BSP, about 20% of the installed PC operating systems in the Philippines are Windows XP. Although this is not specific to the local banking industry, it is expected that companies running the application are exposed to higher security vulnerabilities that may cause threats to business data and information integrity.

In this regard, MBPhil wishes to announce to all its banking clients that the MBXZ hinges on Windows XP. Thus, MBPhil recommends to all MBXZ users to move to MBv8 and MBWin core banking systems which both run on Windows 7 and 8. These IT systems are available on consolidated or modular basis, and are fully compliant to BSP Memorandum No. 012 as well as to reportorial requirements including FRP version 9.1